Jack Lew

About 270,000 Teamsters no longer have to fear their pensions will be cut in July, but their long-term financial security remains unstable.

A proposal from the Central States Pension Fund to reduce pension payments by an average of 22.6 percent to keep the fund from going broke was rejected last week by the U.S. Treasury Department.

The fund has 1,558 members in Pennsylvania and at least 166 in the Lehigh Valley area, most of them retired and collecting benefits. One local retiree told me his monthly pension would have dropped from about $2,000 to about $860 if the plan had gone through.

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